Auction record for Basquiat at $110.5m in New York

By

20th-May-2017

Share

Comments

AFP, New York :A Japanese billionaire bought a Basquiat masterpiece for $110.5 million in New York Thursday, setting a new auction record for the 20th century great nearly 30 years after his death, Sotheby's said.The 1982 "Untitled" of a skull-like head in oil-stick, acrylic and spray paint on a giant canvas was the star lot of the auction season this May, which wraps Friday with more than $1 billion in sales.Sotheby's said it was snapped up by the same Japanese entrepreneur, 41-year-old Yusaku Maezawa, who set the previous Jean-Michel Basquiat auction record last year, dropping $57.3 million on a self-portrait.The $110.5 million price tag was a record for any US artist at auction and the highest at auction for a post-1980 artwork, Sotheby's said."I am happy to announce that I just won this masterpiece," Maezawa wrote on Instagram alongside a picture of himself with the picture."When I first encountered this painting, I was struck with so much excitement and gratitude for my love of art. I want to share that experience with as many people as possible."Cheers and applause greeted the sale, which almost doubled the previous Basquiat auction record of $57 million. During bidding, the auctioneer offered occasional moments of levity and encouragement."It's a great masterpiece at $98 million dollars," he said to laughter in the room. The $110.5 million price tag includes the buyer's premium.Basquiat, born in Brooklyn to Haitian and Puerto Rican parents died in 1988 of an overdose aged just 27 after a fleeting eight-year career."Untitled" provoked a tense 10-minute bidding war in the room and on the telephone, before ultimately going to Maezawa via telephone.

News Archive

Inside The New Nation

THE UN special envoy on Thursday said, Myanmar's Aung San Suu Kyi has clearly failed to stand up for the Rohingyas, and can well be held accountable for crimes against humanity. To a greater extent the UN envoy is correct. While talking to a news channel, the UN envoy also ...

Sports Reporter :Dashing opener Tamim Iqbal will play for Bangladesh in the second and final Twenty20 International Cricket match against Sri Lanka at Sylhet International Cricket Stadium in Sylhet today. The match starts at 5.00 pm.Captain of Bangladesh team Mahmudullah Riyad said, " Tamim's condition is now pretty good. I ...

Indian television's popular face Jennifer Winget has a huge fanbase-thanks to her impeccable acting prowess. Her performances on the silver screen have always made her a winner and after swooning the viewers in 'Beyhadh', the actress is back with a new TV show.Jennifer's new television show is titled 'Bepannah' and ...

Actress Kristen Bell says that "vulnerability" is a key factor in keeping her relationship with husband Dax Shepard "healthy". Bell posted a photograph of a hand-written note on Instagram, which detailed six key points which help her keep things running smoothly with her 43-year-old spouse, reports femalefirst.co.uk. The note read: ...

AFP, Washington :A second woman has made allegations of an affair with Donald Trump, describing complex legal and financial agreements in an alleged bid to cover it up.Former Playboy model Karen McDougal claims that she and Mr Trump had a sexual relationship in 2006, months after first lady Melania Trump ...

The European Union's involvement in holding our national polls goes back more than a couple of decades. As one may expects, this time also the political and economic union of 28 member states expects for an all-inclusive, free and fair polls to take place in Bangladesh. Last Wednesday a European ...

Zareen Khan says she is glad that her mother is not on social media as she will get disturbed with the way her daughter gets trolled. "Trolls don't realise that whatever they write not only affects us but also affects our family and friends. I am very thankful for the ...

AFP, Pyeongchang :South Korea's Yun Sung-bin made history Friday as he became Asia's first Olympic skeleton champion after completely dominating the daredevil event in Pyeongchang.Roared on by the home crowd on the start of a lunar new year observed in Korea, the 23-year-old stormed to his country's second gold medal ...

AFP, Johannesburg :Retired archbishop and Nobel laureate Desmond Tutu announced Thursday that he had quit his role as an ambassador for Oxfam after the British charity was hit by sexual misconduct allegations."The Archbishop is deeply disappointed by allegations of immorality and possible criminality involving humanitarian workers linked to the charity," ...

THERE are thousands of others who hold the existing quota system responsible for not getting the job a meritorious candidate deserves. Currently, only 44 percent are recruited on merit and the remaining 56 percent on privilege allocated under various quotas.The quota system draws two strong criticisms. Firstly, it is hugely ...

Southpaw opener Soumya Sarkar made a stormy return as he hit his maiden half century in the T20I format against Sri Lanka in the first match of the two-match T20I series at Sher-e-Bangla national Cricket Stadium at Mirpur on Thursday.The left-handed batsman put away Shehan Madushanka for a four and ...

Actor Anupriya Goenka recently played the role of queen Nagmati in Sanjay Leela Bhansali's Padmaavat, starring alongside Deepika Padukone and Shahid Kapoor, but it was her controversial ad for a fashion brand in 2015, which created a lot of buzz. While it was touted as the first ever lesbian advertisement, ...